DFX Intelligence
Private Credit Intelligence
The capital structure graph behind private markets. Who lent, to whom, under which sponsor, through which facility, how large the piece was, when it matures and what changed, with a filing behind every number. A BDC piece is that BDC's piece, a sum of pieces is a lower bound, and a sponsor is named with the evidence that names it.
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Borrower
B•••••••• I••••••••• D••••••••• I••
Distributorsgroup grade Aon a schedule nowsponsor unattributed
Also written as: 118.9 B•••••••• I••••••••• D••••••••• I••; 2022; 23; 24; 30; Inc - Funded; Inc. - Unfunded; Inc. Acquisition 07
Principal held
at least $78.0M
sum of BDC pieces, a lower bound
Fair value
$69.9M
96c on cost, debt pieces
Unfunded
$1.7M
commitments not yet drawn
BDC lenders
4
4 on the latest quarter
Facilities
5
0 equity pieces beside them
Next maturity
Sep 17, 2026
$78.0M inside 24 months
On the tape since
Sep 30, 2022
latest Jun 30, 2026
Events
40
dated, non-routine
Capital structure as the BDCs see it
latest quarter end Jun 30, 2026
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| first lien term loan first lien | at least $64.6M | 97c | SOFR+585 bp PIK 0.50% | May 30, 2027 | 4 |
| first lien revolver first lien | at least $13.3M | 91c | SOFR+575 bp | May 30, 2027 | 4 |
| first lien delayed draw term loan first lien | at least $114,000 | 90c | SOFR+575 bp PIK 0.50% | May 30, 2027 | 2 |
| delayed draw term loan lien unstated exited Dec 31, 2024 | unknown | n/a | unstated | 1 | |
| revolver lien unstated exited Dec 31, 2024 | unknown | n/a | unstated | 2 |
Lenders
every BDC piece at the latest quarter end
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| A•••••• P•••••• C••••• F••• | revolver first lien Commitment Type Revolver Commitment Expiration Date 9/17/2026 | n/a | $-40,000 | |
| A•••••• P•••••• C••••• F••• | term loan first lien Asset Type First Lien Term Loan Reference R••• and Spread S + 5.75% Interest R••• 9.65% (I | $5.3M | $4.8M 90c | SOFR+575 bp PIK 0.50% |
| A•••••• P•••••• C••••• F••• | revolver first lien Asset Type First Lien Revolver Reference R••• and Spread S + 5.75% Interest R••• 9.65% Mat | $1.0M | $532,000 84c | SOFR+575 bp |
| A•••••• P•••••• C••••• F••• | delayed draw term loan first lien Asset Type First Lien Delayed Draw Term Loan Reference R••• and Spread S + 5.75% Interest | $113,000 | $102,000 90c | SOFR+575 bp PIK 0.50% |
| A•••••• S•••••••• C••••• F••• | term loan first lien Asset Type First Lien Term Loan Reference R••• and Spread S + 5.75% Interest R••• 9.65% (I | $9,000 | $8,000 89c | SOFR+575 bp PIK 0.50% |
| A•••••• S•••••••• C••••• F••• | term loan first lien Asset Type First Lien Term Loan Reference R••• and Spread S + 5.75% Interest R••• 9.65% (I | $233,000 | $210,000 90c | SOFR+575 bp PIK 0.50% |
| A•••••• S•••••••• C••••• F••• | revolver first lien Asset Type First Lien Revolver Reference R••• and Spread S + 5.75% Interest R••• 9.65% Mat | $3.5M | $1.8M 84c | SOFR+575 bp |
| A•••••• S•••••••• C••••• F••• | delayed draw term loan first lien Asset Type First Lien Delayed Draw Term Loan Reference R••• and Spread S + 5.75% Interest | $1,000 | $1,000 100c | SOFR+575 bp PIK 0.50% |
| A•••••• S•••••••• C••••• F••• | term loan first lien Asset Type First Lien Term Loan Reference R••• and Spread S + 5.75% Interest R••• 9.65% (I | $2.8M | $2.6M 90c | SOFR+575 bp PIK 0.50% |
| A•••••• S•••••••• C••••• F••• | term loan first lien Asset Type First Lien Term Loan Reference R••• and Spread S + 5.75% Interest R••• 9.65% (I | $6.9M | $6.2M 90c | SOFR+575 bp PIK 0.50% |
| A•••••• S•••••••• C••••• F••• | term loan first lien Asset Type First Lien Term Loan Reference R••• and Spread S + 5.75% Interest R••• 9.65% (I | $125,000 | $113,000 90c | SOFR+575 bp PIK 0.50% |
| A•••••• S•••••••• C••••• F••• | revolver first lien Commitment Type Revolver Commitment Expiration Date 5/30/2027 | n/a | $-135,000 | |
| P••••••••• F••••••• R••• C•••••• L••• | term loan first lien First Lien Secured Debt Acquisition 6/27/2022 Maturity 9/17/2026 Industry Distributors Cur | $8.1M | $8.0M 99c | SOFR+540 bp |
| P••••••••• F••••••• R••• C•••••• L••• | revolver first lien First Lien Secured Debt Revolver Acquisition 6/27/2022 Maturity 9/17/2026 Industry Distrib | $2.4M | $2.4M 98c | SOFR+590 bp |
| P••••••••• F••••••• R••• C•••••• L••• | term loan first lien First Lien Secured Debt Acquisition 6/30/2022 Maturity 9/17/2026 Industry Distributors Cur | $14.7M | $14.5M 99c | SOFR+585 bp |
| P••••••••• F••••••• R••• C•••••• L••• | revolver first lien First Lien Secured Debt Revolver Acquisition 6/27/2022 Maturity 9/17/2026 Industry Distrib | $1.5M | $-22,000 | 0.00% |
| P••••••••• I••••••••• C••• | revolver first lien First Lien Secured Debt Revolver Acquisition 06/27/2022 Maturity 09/17/2026 Industry D•••• | $1.9M | $-28,000 | 0.00% |
| P••••••••• I••••••••• C••• | revolver first lien First Lien Secured Debt Revolver Acquisition 06/27/2022 Maturity 09/17/2026 Industry D•••• | $3.0M | $3.0M 99c | SOFR+590 bp |
| P••••••••• I••••••••• C••• | term loan first lien First Lien Secured Debt Acquisition 07/24/23 Maturity 09/17/26 Industry D••••••••• Current | $25.1M | $24.8M 99c | SOFR+585 bp |
| P••••••••• I••••••••• C••• | term loan first lien First Lien Secured Debt Acquisition 06/27/2022 Maturity 09/17/2026 Industry D••••••••• Cur | $1.3M | $1.2M 99c | SOFR+540 bp |
Through time
the borrower's pieces summed across BDCs, every quarter end
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Jun 30, 2026 | 4 | $78.0M | $69.9M | 96c | 8 |
| Mar 31, 2026 | 4 | $77.9M | $68.2M | 95c | 0 |
| Dec 31, 2025 | 4 | $79.7M | $80.2M | 110c | 0 |
| Sep 30, 2025 | 4 | $103M | $93.9M | 99c | 0 |
| Jun 30, 2025 | 4 | $78.4M | $71.6M | 99c | 0 |
| Mar 31, 2025 | 4 | $95.3M | $69.8M | 87c | 0 |
| Dec 31, 2024 | 4 | $82.7M | $65.9M | 99c | 0 |
| Sep 30, 2024 | 3 | $193M | $157M | 99c | 0 |
| Jun 30, 2024 | 3 | $58.1M | $49.9M | 100c | 3 |
| Mar 31, 2024 | 3 | $58.2M | $48.8M | 100c | 0 |
| Dec 31, 2023 | 2 | $57.3M | $47.0M | 100c | 0 |
| Sep 30, 2023 | 2 | $107M | $87.5M | 100c | 0 |
| Jun 30, 2023 | 2 | $47.7M | $34.4M | 98c | 0 |
| Mar 31, 2023 | 2 | $47.9M | $34.2M | 98c | 0 |
| Sep 30, 2022 | 2 | $66.5M | $49.7M | 99c | 0 |
What changed
- Maturity approachingMay 30, 2027
- Maturity approachingMay 30, 2027
- Maturity approachingMay 30, 2027
- Maturity approachingMay 30, 2027
- Maturity approachingMay 30, 2027
- Maturity approachingMay 30, 2027
- Maturity approachingMay 30, 2027
- Maturity approachingMay 30, 2027
- Maturity approachingMay 30, 2027
- PIK interest appearsJun 30, 2026
- Maturity extended (observed)Jun 30, 2026
- Spread changed (observed)Jun 30, 2026
- Spread changed (observed)Jun 30, 2026
- Maturity extended (observed)Jun 30, 2026
- PIK interest appearsJun 30, 2026
- Spread changed (observed)Jun 30, 2026
- Maturity extended (observed)Jun 30, 2026
- Spread increasedJun 30, 2026
- Spread increasedJun 30, 2026
- Spread increasedJun 30, 2026
- Spread increasedJun 30, 2026
- Spread increasedJun 30, 2026
- Spread increasedJun 30, 2026
- PIK interest appearsJun 30, 2026
- PIK interest appearsJun 30, 2026
- PIK interest appearsJun 30, 2026
- PIK interest appearsJun 30, 2026
- Maturity extended (observed)Jun 30, 2026
- Maturity extended (observed)Jun 30, 2026
- Maturity extended (observed)Jun 30, 2026
Sponsor
No sponsor attribution: no portfolio page, deal announcement or Form D signer consensus names an owner for this borrower group.
Identity
- Group key
- BLACKHAWK INDUSTRIAL DISTRIBUTIONderivedthe codename stem after legal suffixes and deal words
- Spellings
- 2 across 4 BDCsderived
- Industry
- Distributorsreportedas one filer wrote it